Louisiana Teachers' Retirement System, Baton Rouge, next month will search for its first hedge fund consultant, confirmed Dana Brown, director of public markets.
The board of the $12.7 billion system approved a target allocation of 2% to hedge funds last June following an asset allocation study by consultant Hewitt EnnisKnupp. The board is expected to approve issuing a solicitation for proposals at its March 6 meeting.
Whether the system will make direct investments in hedge funds or hire managers to run money in hedge funds of funds will be a decision left to the new consultant, said Mr. Brown in a telephone interview.
Separately, at its Tuesday meeting the system's board approved the SFP for at least one active emerging markets debt manager to run a total of up to $400 million, and it will be posted at trsl.org/main/general.php?section=general&page=solicitation_for_proposals shortly, according to Mr. Brown.
